A contract that pays your family a lump sum if you die. Pure term insurance is the only version that does this cheaply — everything else on this line mixes in an investment, which makes both the cover and the returns worse. Buy term, invest the difference elsewhere.

Premiums and claim-settlement ratios are illustrative until sourced from the insurer of record.

Read this before you buy.

• Suicide in the first twelve months — premiums are returned, not the cover
• Death from an undisclosed pre-existing condition or undeclared tobacco use
• Death while committing a crime, or under the influence
• Hazardous activity and aviation other than as a fare-paying passenger
• Anything within the waiting period stated in your own policy schedule

A life claim is made by your family, not by you — which is why the paperwork you do today decides how fast they are paid. A filed nominee turns months into weeks.

1. 01

   Family intimates the claim

   · day 1

   A call to us or the insurer starts it. We handle the form; the family should not be filling paperwork in the first week.

2. 02

   Documents assembled

   · week 1

   Death certificate, policy document, nominee KYC, and for accidents the FIR and post-mortem report. We collect these so the family does not have to.

3. 03

   Insurer verifies

   · weeks 2–5

   Claims inside the first three years are investigated more closely — this is the contestability window, and it is where non-disclosure surfaces.

4. 04

   Payout to the nominee

   · week 3–6

   Paid as a lump sum, or as a monthly income if that option was chosen. The money is tax-free in the nominee’s hands.

5. 05

   Keep it current

   · ongoing

   Update the nominee after a marriage, a birth or a divorce. An ex-spouse named as nominee is paid the money, whatever your will says.